Incyte Co. (NASDAQ:INCY) Receives $76.29 Average Target Price from Analysts

Incyte Co. (NASDAQ:INCY) has been given a consensus rating of “Hold” by the twenty analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $76.29.

A number of research firms have recently weighed in on INCY. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. Oppenheimer boosted their price objective on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. Finally, Morgan Stanley raised their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th.

Insider Transactions at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,023 shares of company stock valued at $839,711 over the last ninety days. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Incyte

Several large investors have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in shares of Incyte during the third quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte during the third quarter worth approximately $33,000. Itau Unibanco Holding S.A. acquired a new stake in Incyte during the 2nd quarter worth $36,000. Cromwell Holdings LLC increased its stake in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the period. Finally, Groupama Asset Managment raised its holdings in shares of Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 6,105 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Price Performance

Shares of INCY opened at $71.93 on Monday. The firm has a market capitalization of $13.86 billion, a PE ratio of 513.82, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company’s fifty day moving average price is $72.36 and its 200-day moving average price is $68.06. Incyte has a 1-year low of $50.35 and a 1-year high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm earned $0.91 EPS. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities research analysts predict that Incyte will post 0.4 EPS for the current year.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.